11 June 2024
We are a govt. contractor firm and all our bills receive deductions for statutory amounts (TDS, GST TDS, BOCWW Cess, etc.). When reporting gross receipts in the ITR, should we include these deducted amounts in the:
- 'Receipt through bank' column, or - 'Receipt through any other mode' column
Given that:
- Gross Receipts include deductions (TDS, GST TDS, BOCWW Cess, etc.) - All receipts are received through bank after deductions - ITR asks for Gross Receipts, subdivided into: 1. Receipt through bank 2. Receipt through any other mode
Please provide guidance on where to report the gross receipts, including deductions, in the ITR.
CAclubindia
